What is cashback? When you buy something, you get a percentage of the amount it cost paid back to you. This means cashback is a way of getting money off things you buy – think of it like a discount or incentive. It's normally a feature of credit cards, but some current accounts also offer cashback.
Cashback credit cards - Money Advice Service
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All you have to do to get rewards on Google Pay is link your card to the app, then “claim” those rewards before purchasing at specific retailers (both online and in-store). ... Once selected, they can earn Cash Back rewards when checking out with Google Pay or their physical credit card.
New Google Pay rewards are powered by Rakuten - 9to5Google
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It's Not Free Cash If the cardholder has a participating cash back rewards program, the credit card issuer simply shares some of the merchant fees with the consumer. The goal is to incentivize people to use their credit cards when making payments rather than cash or debit cards, which earns them no rewards.
How Is Cashback Profitable for Credit Card Companies? - Investopedia
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For example, a customer purchasing $18.99 worth of goods at a supermarket might ask for twenty dollars cashback. They would pay a total of $38.99 ($18.99 + $20.00) with their debit card and receive $20 in cash along with their goods. This benefits the store as it reduces the amount of cash banking the store has to do.
Debit card cashback - Wikipedia
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